Shanghai Dazhong Public Utilities : ANNOUNCEMENT - (1) CLOSURE OF REGISTER OF H SHAREHOLDERS IN RESPECT OF THE DISTRIBUTION OF FINAL DIVIDEND; AND (2) DISTRIBUTION OF FINAL DIVIDEND TO INVESTORS OF NORTHBOUND TRADING AND INVESTORS OF SOUTHBOUND TRADING
06/23/2021 | 10:47pm EDT
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
Shanghai Dazhong Public Utilities (Group) Co., Ltd.*
(a joint stock company incorporated in the People's Republic of China with limited liability)
(Stock Code: 1635)
CLOSURE OF REGISTER OF H SHAREHOLDERS IN RESPECT OF THE DISTRIBUTION OF FINAL DIVIDEND; AND
DISTRIBUTION OF FINAL DIVIDEND TO INVESTORS OF NORTHBOUND TRADING AND INVESTORS OF
CLOSURE OF REGISTER OF H SHAREHOLDERS IN RESPECT OF THE DISTRIBUTION OF FINAL DIVIDEND
Reference is made to the announcement of poll results of the 2020 annual general meeting of Shanghai Dazhong Public Utilities (Group) Co., Ltd.* (the "Company") dated 18 June 2021 and the circular of annual general meeting of the Company dated 28 April 2021 (the "Circular"). Unless the context otherwise requires, capitalised terms used herein shall have the same meanings as ascribed thereto in the Circular. The profits distribution plan of the Company for the year ended 31 December 2020 has been considered and approved by the Shareholders. The Company will distribute a final cash dividend of RMB0.55 for every 10 Shares (tax inclusive) to the Shareholders (the "Final Dividend").
The Final Dividend is denominated and declared in Renminbi, and is payable to H Shareholders in Hong Kong dollars. The relevant exchange rate is determined at RMB0.8252 equivalent to HK$1.00 as the average of the mid-point of the exchange rate of Renminbi to Hong Kong dollars as announced by the People's Bank of China during five working days prior to the date of announcement of the Final Dividend (i.e. the date of the AGM). Accordingly, the Final Dividend to the H Shareholders is HK$0.6665 for every 10 Shares (tax inclusive).
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In order to determine entitlement of H shareholders to the Final Dividend, the register of H Shareholders of the Company will be temporarily closed from Thursday, 24 June 2021 until Tuesday, 29 June 2021, both days inclusive, during which period no transfer of H shares of the Company would be registered. In order to qualify for entitlement to the Final Dividend, all duly completed transfer forms of H Shares accompanied by the relevant share certificates must be lodged with the H share registrar of the Company, Computershare Hong Kong Investor Services Limited, at Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong, for registration not later than 4:30 p.m. on Wednesday, 23 June 2021.
In respect of the distribution of the Final Dividend to the H Shareholders of the Company, the record date is Tuesday, 29 June 2021, the ex-entitlement date is Tuesday, 22 June 2021, and the date of distribution of the Final Dividend is Friday, 6 August 2021.
For the withholding and payment arrangements regarding enterprise income tax and individual income tax for the H Shareholders on the Final Dividend under relevant laws and regulations, please refer to the circular of the Company dated 28 April 2021.
DISTRIBUTION OF FINAL DIVIDEND TO INVESTORS OF NORTHBOUND
For investors of the Hong Kong Stock Exchange (including enterprises and individuals) investing in the A Shares listed on the Shanghai Stock Exchange (the "Investors of Northbound Trading"), their Final Dividend will be distributed in RMB by the Company through the Shanghai Branch of China Securities Depository and Clearing Corporation Limited to the accounts of the nominees holding such shares. The Company will withhold and pay income taxes of 10% on behalf of those investors and will report to the tax authorities. For Investors of Northbound Trading who are tax residents of other countries and whose country of domicile is a country which has entered into a tax treaty with the PRC stipulating a dividend tax rate of lower than 10%, those enterprises and individuals may, or may entrust a withholding agent to, apply to the competent tax authorities of the Company for the entitlement of the rate under such tax treaty. Upon approval by the tax authorities, the paid amount in excess of the tax payable based on the tax rate according to such tax treaty will be refunded.
The record date, the ex-entitlement date and the date of distribution of Final Dividend and other time arrangements for the Investors of Northbound Trading will be the same as those for the shareholders of A Shares of the Company.
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DISTRIBUTION OF FINAL DIVIDEND TO INVESTORS OF SOUTHBOUND TRADING
For investors of the Shanghai Stock Exchange and the Shenzhen Stock Exchange (including enterprises and individuals) investing in the H Shares listed on the Hong Kong Stock Exchange (the "Investors of Southbound Trading"), the Company has entered into "the Agreement on Distribution of Cash Dividends of H Shares for Southbound Trading" 《( 港股通H 股股票現金紅利派發協議》) with China Securities Depository and Clearing Corporation Limited, pursuant to which, Shanghai Branch and Shenzhen Branch of China Securities Depository and Clearing Corporation Limited, as the nominee holders of H Shares for the Investors of Southbound Trading, will receive the Final Dividend distributed by the Company and distribute the Final Dividend to the relevant Investors of Southbound Trading through their respective depository and clearing system.
The Final Dividend for the Investors of Southbound Trading will be paid in RMB. Pursuant to the relevant requirements under the Notice on the Tax Policies Related to the Pilot Program of the Shanghai-Hong Kong Stock Connect (Caishui  No. 81) (《關於滬港股票市場交易 互聯互通機制試點有關稅收政策的通知（財稅81號）》) and the Notice on the Tax Policies Related to the Pilot Program of the Shenzhen-Hong Kong Stock Connect (Caishui
 No. 2017) 《( 關於深港股票市場交易互聯互通機制試點有關稅收政策的通知（財稅 2017號）》), for dividends received by domestic individual investors from investing in H shares listed on the Hong Kong Stock Exchange throughShanghai-HongKong Stock Connect, the company of such H shares shall withhold and pay individual income tax at the rate of 20% on behalf of the investors. For dividends received by domestic securities investment funds from investing in shares listed on the Hong Kong Stock Exchange throughShanghai-HongKong Stock Connect, the tax payable shall be the same as that for individual investors. The company of such H shares will not withhold and pay the income tax of dividends for domestic enterprise investors and those domestic enterprise investors shall report and pay the relevant tax themselves.
The record date, the ex-entitlement date and the date of distribution of Final Dividend and other time arrangements for the Investors of Southbound Trading will be the same as those for the H Shareholders.
The Company will withhold the income tax payable by its H Shareholders strictly in accordance with the relevant laws and requirements of the relevant government departments and adhere strictly to the information set out in the Company's register of H Shareholders on the relevant record date. The Company assumes no liability whatsoever in respect of any disputes or losses arising from any delay in, or inaccurate determination of, the status of the Shareholders.
Shareholders are recommended to consult their tax advisers regarding the PRC, Hong Kong and other tax implications arising from their holding and disposal of H Shares.
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The Company has appointed Computershare Hong Kong Trustees Limited as the receiving agent in Hong Kong (the "Receiving Agent") and will pay the Receiving Agent the Final Dividend declared in respect of the H Shares, which will be held by the Receiving Agent on trust pending payment to the relevant H Shareholders. Such Final Dividend (net of applicable taxes) will be paid by the Receiving Agent and the relevant cheques will be mailed by H share registrar of the Company, Computershare Hong Kong Investor Services Limited on Friday, 6 August 2021 to the holders of the H Shares whose names are registered in the Company's register of members on Tuesday, 29 June 2021 by ordinary post at their own risk.
By order of the Board
Shanghai Dazhong Public Utilities (Group) Co., Ltd.*
Shanghai, the People's Republic of China
22 June 2021
As at the date of this announcement, the Board comprises Mr. YANG Guoping, Mr. LIANG Jiawei, Mr. WANG Baoping and Mr. YANG Weibiao as executive Directors; Ms. QU Jia and Mr. JIN Yongsheng as non-executive Directors; and Mr. WANG Kaiguo, Mr. CHOW Siu Lui and Mr. LIU Zhengdong as independent non-executive Directors.
Shanghai Dazhong Public Utilities (Group) Co. Ltd. published this content on 24 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 June 2021 02:46:01 UTC.
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